TGS ASA

TGS Secures Two-Month Proprietary OBN Data Acquisition Contract in the Gulf of Mexico

OSLO, Norway (18 December 2023) - TGS, the leading global provider of energy

data and intelligence, has been awarded a two-month proprietary Ocean Bottom

Node (OBN) data acquisition contract in the Gulf of Mexico. The project's

acquisition will start in Q1 2024.

Kristian Johansen, CEO at TGS, commented: "This project highlights the key role

OBN data plays in this vital basin. OBN technology provides the essential data

needed to visualize and understand the intricate structures within the Gulf of

Mexico, enabling our clients to make well-informed, data-driven decisions in

their field development strategies."

As the industry evolves, the adoption of OBN technology brings forth a myriad of

benefits for both the energy sector and its stakeholders. By employing OBN

technology, TGS ensures a more comprehensive and accurate understanding of

subsurface structures, paving the way for enhanced reservoir characterization

and improved imaging of complex geological formations. This advanced data

acquisition approach not only increases exploration success rates but also

contributes to more efficient resource utilization, ultimately reducing

operational risks and costs for clients.

About TGS

TGS provides scientific data and intelligence to companies active in the energy

sector. In addition to a global, extensive and diverse energy data library, TGS

offers specialized services such as advanced processing and analytics alongside

cloud-based data applications and solutions.

Forward Looking Statement

All statements in this press release other than statements of historical fact

are forward-looking statements, which are subject to a number of risks,

uncertainties and assumptions that are difficult to predict and are based upon

assumptions as to future events that may not prove accurate. These factors

include volatile market conditions, investment opportunities in new and existing

markets, demand for licensing of data within the energy industry, operational

challenges, and reliance on a cyclical industry and principal customers. Actual

results may differ materially from those expected or projected in the forward-

looking statements. TGS undertakes no responsibility or obligation to update or

alter forward-looking statements for any reason.

For more information, visit TGS.com (http://www.tgs.com) or contact:

Sven Børre Larsen

Chief Financial Officer

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